As part of a recapitalization agreement announced Tuesday, existing and new investors in the American Express Global Business Travel joint venture made a ten-year commitment. Chairman Greg O’Hara intends to stay in the role that long, as well. Owners affirmed a $5 billion value for the company, including debt. During a Wednesday phone interview, O’Hara…
Travel Leaders Group in March announced new jobs for two executives whose expertise befit a company prepping to go public. Sources familiar with the firm’s plans said the process could start this year. The company tasked Steve DeLorenzo with overseeing its investment in upgraded financial systems. After joining Travel Leaders as CFO in 2017, DeLorenzo…
Now that’s a mega. American Express Global Business Travel today announced plans to acquire Hogg Robinson Group in an all-cash deal. Both are among the top four global travel management companies. Publicly traded HRG also announced it would sell its Fraedom software business to Visa for 142 million pounds ($198 million). Depending on conditions related to…
Travel Leaders Group in July acquired Raleigh, N.C.-based Travel Management Partners. It’s another in a string of deals pushing TLG to the extremes of travel agency heft. Twenty-three year-old TMP employed about 135 people as of a year ago. According to The News & Observer of Raleigh, TMP in 2015 arranged more than $300 million in travel…
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